Achieving Financial Wellness Through Digitization and Personalization with Nalika Nanayakkara

Digitization and personalization are two emerging trends in asset and wealth management. With financial wellness also becoming an important factor in overall portfolio management, the convergence of digital advice and concierge services has grown more complex. How can advisors cope with the rapid changes in the asset and wealth management industries?
In today’s episode, Jack talks with Nalika Nanayakkara, Managing Partner Americas, Financial Services Consulting Leader, EY. A leader in EY's Wealth and Asset Management (WAM) Consulting business, Nalika advises many of the world's leading WAM organizations on strategy, growth, efficiency, and innovation.
Nalika talks with Jack about the recent changes in the asset and wealth management industry, how financial leaders are coping with digitization and concierge services, and why complexity is an opportunity.

Key Takeaways

[01:11] - Nalika's role in the asset and wealth management services.

[03:02] - The recent changes in the asset and wealth management industry.

[08:08] - How financial leaders are coping with digitization and concierge services.

[14:22] - Why complexity is an opportunity.

[18:11] - The convergence of retirement and wealth management businesses.

[21:43] - How to keep up with retirement and wealth management services in the future.

[23:13] - What interests Nalika outside of work.

Quotes
[04:39] - "Clients are becoming a bit more self-directed, but it doesn't mean the value of advice goes away. It's really how the advisor's role changes from financial advisor to a life coach." - Nalika Nanayakkara
[14:22] - "Complexity is a threat but it's also an opportunity. I think if things are easy, then everything could be automated and everything would be free." - Nalika Nanayakkara
[20:19] - "I think retirement is also becoming a part of the wellness agenda, like how do I get financial peace of mind? And retirement is a big piece of it." - Nalika Nanayakkara 
[22:08] - "You can't be all things to all clients. So, you have to figure out how to balance digitization with the human touch. You have to figure out how to use tech and data to provide differentiated experience and build trust." - Nalika Nanayakkara

Links 

Nalika Nanayakkara on LinkedIn

EY

Edward Jones

Goldman Sachs

JPMorgan Chase

Morgan Stanley

Merrill Lynch

UBS

Orion Advisor Solutions

Envestnet

Fidelity Investments

Empower Retirement

Connect with our hosts

LifeYield

Jack Sharry on LinkedIn

Jack Sharry on Twitter

Subscribe and stay in touch

Apple Podcasts

Spotify

LinkedIn

Twitter

Facebook

Digitization and personalization are two emerging trends in asset and wealth management. With financial wellness also becoming an important factor in overall portfolio management, the convergence of digital advice and concierge services has grown more complex. How can advisors cope with the rapid changes in the asset and wealth management industries?

In today’s episode, Jack talks with Nalika Nanayakkara, Managing Partner Americas, Financial Services Consulting Leader, EY. A leader in EY's Wealth and Asset Management (WAM) Consulting business, Nalika advises many of the world's leading WAM organizations on strategy, growth, efficiency, and innovation.

Nalika talks with Jack about the recent changes in the asset and wealth management industry, how financial leaders are coping with digitization and concierge services, and why complexity is an opportunity.

Key Takeaways

[01:11] - Nalika's role in the asset and wealth management services.
[03:02] - The recent changes in the asset and wealth management industry.
[08:08] - How financial leaders are coping with digitization and concierge services.
[14:22] - Why complexity is an opportunity.
[18:11] - The convergence of retirement and wealth management businesses.
[21:43] - How to keep up with retirement and wealth management services in the future.
[23:13] - What interests Nalika outside of work.

Quotes

[04:39] - "Clients are becoming a bit more self-directed, but it doesn't mean the value of advice goes away. It's really how the advisor's role changes from financial advisor to a life coach." - Nalika Nanayakkara

[14:22] - "Complexity is a threat but it's also an opportunity. I think if things are easy, then everything could be automated and everything would be free." - Nalika Nanayakkara

[20:19] - "I think retirement is also becoming a part of the wellness agenda, like how do I get financial peace of mind? And retirement is a big piece of it." - Nalika Nanayakkara 

[22:08] - "You can't be all things to all clients. So, you have to figure out how to balance digitization with the human touch. You have to figure out how to use tech and data to provide differentiated experience and build trust." - Nalika Nanayakkara

Links 

Nalika Nanayakkara on LinkedIn
EY
Edward Jones
Goldman Sachs
JPMorgan Chase
Morgan Stanley
Merrill Lynch
UBS
Orion Advisor Solutions
Envestnet
Fidelity Investments
Empower Retirement

Connect with our hosts

LifeYield
Jack Sharry on LinkedIn
Jack Sharry on Twitter

Subscribe and stay in touch

Apple Podcasts
Spotify
LinkedIn
Twitter
Facebook